NNPC Ltd restores production of 275,000bopd

. As Foundation trains corps members on financial literacy

The Petroleum and Natural Gas Senior Staff Association, (PENGASSAN) and the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), the unions have agreed to suspend ongoing industrial action leading to immediate restoration of 275, 000 barrels of oil per day production. 

This followed a peace deal brokered on Sunday by the Nigerian National Petroleum Company Limited, NNPCL, between the management of Total Energies, operator of the NNPC/Total JV, according to a statement by the Chief Corporate Communications Officer, NNPC Ltd, Olufemi Soneye.

In a communique issued at the end of a marathon negotiation session chaired by Mrs. Oritsemeyiwa Eyesan, Executive Vice President, Upstream, NNPCL, all parties committed to resolving all the issues within an agreed framework.  

The communique was signed by Total Energies MD/CEO Mr. Matthieu Bouyer, PENGASSAN President, Comrade Festus Osifo, and NUPENG   President, Comrade Williams Akporeha.

It was witnessed by NNPC Ltd, EVP Upstream, Mrs. Oritsemeyiwa Eyesan, and Mr. Bala Wunti, Chief Upstream Investment Officer, NNPC Upstream Investment Managenent Services, (NUIMS).  Also in attendance was Mr. Victor Bandele, Deputy Managing Director, Total Energies.

Financial literacy

In another development, the NNPC Foundation, in partnership with Kudimata Nigeria Limited, a financial education outfit, have trained the Batch C members of the National Youth Service Corps (NYSC) in basic financial literacy skills.

The move is to build the capacity of youth towards making them employers of labour.

The training, which aligned with the objectives of Skills Acquisition and Entrepreneurship Development (SAED) scheme of NYSC had its maiden edition featuring Batch B stream in the past months.

So far over 118,000 youth corps members have been trained in financial literacy, while about 70,000 are being trained across the 37 NYSC orientation camps in the country.

This programme cuts across the 36 states of the country including the Federal Capital Territory (FCT). This is the first step towards a series of programmes that will culminate in instilling entrepreneurship in the Corps members. 

Speaking during the training, the Managing Director, NNPC Foundation, Emmanuella Arukwe, described financial literacy as not only the bedrock of all successes in the ever-competitive labour market, but a journey towards attaining self-actualization, thereby heralding the trajectory to sustainable prosperity of the nation.

Arukwe, who implored the corps members to leverage on the knowledge garnered from the training to avert white collar job syndrome, added that the NNPC Foundation is committed to impacting the youth corps members to become employers of labour.

“We are partnering with both NYSC and Kudimata to bring financial literacy to the corps members, as this will help them make better-informed decisions. We are very passionate about young people and NYSC is a veritable ground as it cuts across 20 to 30 years old youth, thus, making it the right demography,” she stated.

According to her, “This programme cuts across the 36 states of the country including the Federal Capital Territory (FCT). This is the first step towards a series of programmes that will culminate in instilling entrepreneurship in the Corps members. After this training, those who pass the examination by 70 percent will move to the next stage.

“The next stage will keep them better informed on how to run businesses to ensure success in their businesses. Thereafter, we will do a pitching where those who are properly trained will be selected and be given start-up kits to go ahead and be on their own,” the MD added.

Addressing unemployment as the greatest problem of young graduates, she said, “We are aware of unemployment as a challenge plaguing young graduates and we recognize the need to empower the youths through capacity building of this magnitude for them to empower the whole nation. This training will help reduce unemployment and underemployment in Nigeria, thereby making the corps members employers of labour.”

In her remarks, the FCT Coordinator, NYSC, Shokpeka Winifred expressed her profound gratitude to both NNPC Foundation and Kudimata Nigeria Ltd for their unwavering support to empower the corps members to enable them to become self-reliant individuals and wealth creators.

Winifred described the training as a platform for young people to learn the best ways of managing their finances, while also grooming them to become good managers of resources.

“Going forward, I’m confident that they will put what they have learnt to use by utilizing their funds well as they are now aware of how to earn, maintain and multiply their finances. We are striving to see them becoming business owners tomorrow through further mentorship,” the Coordinator concluded.

One of the corps members at the NYSC orientation camp in Abuja, Prudence Enema said: “I’m thrilled that the NNPC Foundation took their time to train us on financial literacy, we are aware that financial literacy is very important, and we have learnt a lot on how to multiply our money in order not to suffer in the future.”

Another corps member, Okeke Ugochukwu revealed that the training was worthwhile as the importance of saving and categorization of finances were taught effectively.

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